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For fixing leaks in TARP-funded banks

Uh, oh. Don’t let Congress know about the profits made from TARP. They’ll figure out a way to do these sort of things to raise money so they can spend more. On the other hand, if it allowed for lowing taxes… Right. Haha! That’ll happen!

According to a report in The Banker magazine, it seems that the TARP was successful to the US in terms of return on investment and the stated goal of the program. The following are some of the key points quoted by the magazine based on the July report from SIGTARP, the body monitoring the various programs under the umbrella of the TARP:

* 87 TARP recipients had repaid all or a portion of their principal or repurchased shares, for a total of $201.5B.
* A total of just $182.5B of disbursed TARP funds is outstanding.
* By July, the US government had received $22.7B in interest, dividends, sale of warrants, stocks and other income.
* Of the 707 banks that received almost $205B in TARP funds through the Capital Purchase Program (CPP), 76 have fully repaid their funds to a total of $138.4B. Hence the US has recovered 67.5% of the funds invested in banks.
* Of the remaining banks that owe money to the US, 580 of them owe less than $100M.
* The US government reaped a high rate of return on the TARP funds that have been fully repaid already. The top 15 by total proceeds yielded an average non-annualized return of 10.2%.

A well-known climate change skeptic has changed his mind regarding the importance of global warming, and in his new book, he is urging the spending of over $100 billion annually to help fight warming.

Bjorn Lomborg, an academic and environmental author, has held a strong opposing opinion against global warming for some time now, writing books such as “The Skeptical Environmentalist.” In this book, he argues against claims regarding certain aspects of global warming, species loss, water shortages, etc. [...] Lomborg has now switched teams and makes this new vision clear in his upcoming book, “Smart Solutions to Climate Change,” which will be published next month.

Lomborg never denied the human role in global warming, but always argued that trying to counter climate change should be a “low priority” when it comes to government spending. [...] So what made him change his mind? According to Lomborg, the Copenhagen Consensus project, which is where a group of economists are asked to consider the best way to spend $50 billion, made him reconsider global warming’s importance.
[...]
Lomborg now proposes a global carbon tax to raise $250 billion annually, where $100 billion will be spent on clean energy research and development, $50 billion on climate change adaptation and $1 billion on low-cost geo-engineering solutions. He wants the rest to be spent on better healthcare in poor countries and cleaner water.

This is ex-BBC presenter and Middle East expert Alan Hart on the Kevin Barrett show.

Should we take bets on how many more conspiracy stories (with an assortment of players) and interviews will appear during this coming week? Makes the Kennedy assassination conspiracy theorists seem like a knitting circle jerk.

Gilpin Family Whisky

Large amounts of sugar are excreted on a daily basis by type-two diabetic patients especially amongst the upper end of our aging population. As a result of this diabetic patients toilets often have unusual scale build up in the basin due and rapid mold growths as the sugar put into the system acts as nutrients for mold and bacteria growth. Is it plausible to suggest that we start utilizing our water purification systems in order to harvest the biological resources that our elderly already process in abundance?

Sugar heavy urine excreted by diabetic patients is now being utilized for the fermentation of high-end single malt whisky for export. The Whisky market is growing faster then any other alcoholic beverage worldwide. With a prevalent genetic weakness being exposed in the northern hemisphere leading to a sharp rise in type two diabetes, economists have found a new exportable commodity to exploit and are keen to capitalize on this resource quickly.